I received some convenience checks to use from my
credit card company. Should I use them?

Use these types of checks with caution. Many card
issuers send convenience checks encouraging holders to
transfer balances or use them to make purchases. In
exchange they offer low interest rates - some even with
0%. Before using the checks look for the fine print in
the card application that says something like
"convenience checks will be charged to your account as
cash advances to be repaid under the terms of the
account." This is a tip off that other charges are
involved. Read your card holder agreement - or call
customer service - to make sure you understand all the
costs before you use the checks.

Source: Bottom Line Personal - Oct
15, 1997

Written by:
Sandra McKinnon, Consumer & Family Economics Specialist,
University of Missouri Extension